Russia Introduces Bill To Criminalize Unregistered Crypto Services
Cointelegraph
Russia has proposed a new bill that would impose criminal penalties on entities offering crypto services without official registration with the Bank of Russia.Summary
The Russian government has introduced legislation to the State Duma that aims to criminalize the provision of digital currency services without proper licensing from the Bank of Russia. Under the proposed bill, offenders could face significant fines and up to four years in prison, with penalties increasing to seven years for activities involving organized groups or large-scale financial gains. While the legislation seeks to enhance government oversight, it has faced criticism from Russia's Supreme Court, which argued the move is premature ahead of the implementation of the broader Digital Currency and Digital Rights law.
(Source：Cointelegraph)